On the morning of October 28, world gold fell below 4000 USD, domestic gold fell accordingly.

The world gold price on the morning of October 28 was recorded at 3,994.17 USD/ounce, unable to recover after falling nearly 120 USD/ounce on the evening of October 27. From the historical peak of 4,381 USD/ounce set on October 21, the gold price fell to 4,100 USD/ounce at the end of the week, equivalent to a decrease of more than 390 USD/ounce, equivalent to about 12.4 million VND/tael.

This sharp decline extended the series of deep corrections from October 20 to October 24, marking a rare drop in a decade. Many investors believe that this decline is a natural reaction after a period of hot gold prices that lasted for many months.

According to analysts, the price of gold fell due to the impact of the US and China announcing a trade agreement framework, which cooled geopolitical tensions. As global risks decreased, safe-haven money left gold to seek opportunities in higher-risk assets such as stocks and industrial goods.

In addition, the recovery of the US dollar and the increase in US bond yields have made gold, a non-interest-bearing asset, less attractive. Since the beginning of 2025, the price of gold has increased by more than 60%, following a 27% increase in 2024, causing a wave of massive profit-taking as investors want to preserve profits.

Some experts believe the decline may soon slow down. Ryan McIntyre of Sprott Inc. said that economic and geopolitical risks remain high, so gold remains an important safe-haven asset.

Expert Ole Hansen from Saxo Bank assessed that the fall to around 4,000 USD/ounce is a "necessary correction" to eliminate overbought psychology, opening a new accumulation cycle for gold prices.

Citigroup forecasts gold prices could hover around $4,300–$4,500 an ounce in the first half of 2026 if the dollar weakens and the Fed cuts rates twice more. Goldman Sachs is even more optimistic, projecting that gold prices could surpass $4,700 an ounce in 2027.

In the Vietnamese market, gold prices also fell sharply following global fluctuations. At 9:00 a.m. on October 28, major brands such as SJC, DOJI, and Bao Tin Minh Chau simultaneously adjusted their prices down by about VND1.2 million/tael. SJC gold bar prices were listed at VND145.7 - 147.2 million/tael, while DOJI was around VND145.7 - 147.2 million/tael.

The price of gold rings decreased by about 1.3 to 1.8 million VND/tael, ranging from 144 to 147 million VND/tael depending on the brand. At Bao Tin Minh Chau, the buying and selling price of gold rings is at 147.9 to 150.9 million VND/tael, and at Bao Tin Manh Hai it is at 147.4 to 149.4 million VND/tael.

In the free market, the price of SJC gold bars at small shops also dropped by nearly 2 million VND compared to the morning, trading around 159.4 - 163.4 million VND/tael. Although it has dropped sharply by 13 - 14 million VND compared to the peak a few weeks ago, the domestic gold price is still at a rare high level, reflecting an imbalance between supply and demand.